Author: hjenkins42

E-commerce payments enabler SumUp raised $624 million (€590 million) in a combination of equity and debt financing this week. The funding round was led by Bain Capital Tech Opportunities. This week’s investment gives SumUp a valuation of $8.5 billion (€8 billion). In a round led by Bain Capital Tech Opportunities – and featuring participation from…

Here are the three most relevant developments in the world of structured reporting we became aware of in the course of last week.  1  ESG practitioners detail top reporting challenges Nearly two thirds of senior decision makers feel their organization is underprepared to meet their environmental, social, and governance (ESG) goals and regulatory reporting mandates,…

Within embedded finance, insurance is provided as a native feature in the platform, marketplace or ecosystem. Not entirely new, bancassurance is one variant that has existed for long. In its current avatar, embedded insurance offers advantages for all involved, including tech players, carriers and consumers. A primal constraint in insurance distribution has been that purchase…

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Buy now, pay later (BNPL) has seen a lot of hype since the popularity of the technology exploded in 2020. The U.K. Financial Conduct Authority (FCA) estimates that the U.K. BNPL market is worth $3.7 billion (£2.7 billion), and that five million British citizens have used BNPL tools since 2020. This growth is great for…

Two Finovate newcomers – DigiShares and the Polymesh Network – have teamed up to promote the use of tokenization to create and manage securities. The partnership comes in the form of a grant from the Polymesh Ecosystem Development Fund (EDF), a part of the not-for-profit Polymesh Association. DigiShares is headquartered in Denmark and demoed its…

Iowa-based TS Banking Group has selected Temenos Banking Services delivered on the Temenos Banking Cloud for “a complete digital transformation.” TS Banking Group will migrate “the entirety of its banking operations” to Temenos’ platform, the bank holding company said in a release. “The Temenos Banking Cloud will provide us with the agility of a challenger…

Truist has unveiled its Innovation and Technology Center, a research- and client collaboration-focused facility located at the bank’s Charlotte, N.C., headquarters. The 100,000-square-foot space is $544 billion Truist’s latest banking automation and innovation play, with technology research hubs and collaborative workspaces for the bank’s technologists, alongside a client contact center. The initiative was a vision…